Turku, Finland, 2012-06-08 09:15 CEST (GLOBE NEWSWIRE) --
TELESTE CORPORATION STOCK EXCHANGE RELEASE 8.6.2012 AT 10:15
TELESTE SIGNED AN AGREEMENT WITH UPC BROADBAND
Teleste and Liberty Global, Inc.’s UPC Broadband division have signed an agreement for the delivery of Teleste’s next generation optical node products to Liberty Global’s operations across Europe. This new optical node platform allows cable operators to reduce both the network upgrade costs as well as improve subscriber service availability as the installation time can be minimized due to intelligence embedded in the product.
The value of the agreement is estimated to exceed EUR 10 million until end of 2017. Signing this agreement is of strategic importance for Teleste, as it strengthens Teleste’s position as the leading supplier of HFC equipment in Europe.
UPC Broadband (UPC) is the European division of Liberty Global, the world’s leading international cable operator. UPC brings television, broadband Internet and telephone services to approximately 16.1 million customers throughout 10 European countries. The company is driven by its vision that 'this amazing but often complex digital world should be for everyone'.
Teleste is an international technology group founded in 1954, which is specialized in broadband video and data communication systems and services. The Group is active in two business segments, Video and Broadband Solutions and Network Services; in both fields, we are among the global leaders. Video is at the core of our business activities, with a focus on the processing, transmission and management of video and data for operators and public authorities who provide various video-related information, entertainment and security services to end-users. Video and Broadband Solutions specializes in product solutions for broadband access networks, video service platforms and video surveillance applications. Network Services deliver comprehensive network service solutions including new construction, rebuilding, upgrading, planning and maintenance services of cable networks. In 2011 the Group's net sales totaled EUR 184 million and the Group employed 1,319 persons at the year-end. The company has approximately 30 offices world-wide and over 90% of Teleste's net sales are generated outside Finland. The company is listed on the NASDAQ OMX Helsinki Ltd. Visit www.teleste.com for more information.
Mr Jukka Rinnevaara, CEO, Tel. +358 2 2605 866 or +358 400 747 488
NASDAQ OMX Helsinki Ltd